Rental Process Step by step
- Search for your next apartment on our website.
- Once you’ve found one that you like, go ahead and schedule an appointment with one of our licensed agents.
- Meet with our agent(s) and check out the listing(s) you’re interested in.
- If you fall in love with one of our properties, you can get first dibs by stopping by our office, filling out the rental application, and paying a security deposit equal to one month’s rent (cash, certified bank check, or money order are all acceptable forms of payment).
- Submit all other necessary paperwork within 48 hours. **
- Sit tight while the landlord looks over your application materials.
- If you’re approved, schedule a lease signing where you’ll make everything official.
- If you’re rejected, looks like you’ve got to get back on the hunt. But no worries, you’ll get your full deposit back.
Landlord Requirements
Most landlords want to see that your income is more than 40 times the monthly rent. So take your pre-tax, annual income (salary, bonuses, dividends), and divide that by 40. That’s the maximum rent you’ll be approved for. Our landlords will allow you to combine your income with your roommates’ income to hit this 40-times threshold.
Depending on the property, some landlords often have more than enough qualified applicants, and so many will require tenants to make 50 times the monthly rent.
Not quite meeting the 40-times?
When your income doesn’t meet the 40-times requirement, you may have one other option: a Guarantor.
Stuff You will need
In addition to the completed renter application (and guarantor application, if necessary), here’s a list of other important things you’ll need to have on hand:
- Copy of your driver’s license
- Two of your most recent pay stubs*
- Three of your most recent bank statements*
- Copy of last year’s W-2 or other tax return
- If you are starting a new job, bring your offer letter.
- Any other proof of income that you might have.
*some exclusions may apply, please contact us for more details
Note: If you’re using a guarantor, we’ll also need copies of the same documents from him or her.
Charges and Fees
Here’s a breakdown of the fees that you might see:
Broker’s Fee: No Fee & Fee Apartments
Security Deposit
The Security Deposit isn’t really a fee, and we don’t actually keep any of it. Rather, the Deposit is held by the landlord in case you cause any damage to their unit during your tenancy. Landlords may request additional deposit amounts for tenants with risky credit history or unstable income.
Credit Check Fee
The Credit Check Fee (also known as an Application Fee) is the fee that you will be charged for checking your credit. Even if you’ve recently checked your own credit, we have to run it again. As your Broker, we’re presenting you to the landlords, so we have to be 100% sure that all of our information is accurate and thorough. This means that we need to run our own credit check on each tenant that’s applying to have their name on the lease, as well as any guarantors or co-signors. Credit checks cost $75 per person (whom are part of the application).
Methods of Payment
Your total balance will consist of rent payment, deposit, and applicable fees. You can pay this balance via cash, money order, certified bank check. Personal checks are not accepted (sorry!).